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today secretary of defense leon panetta notified congress of the pentagon's plan to furlough 700,000 civilian employees, who, beginning in april, will be required to take one day off per week. in essence, a 20% pay cut. as for the current political geist, this seems to be more about political positioning rather than prevention. this afternoon, the president will sit down with local tv anchors to explain the adverse effects of the coming cuts. meanwhile, speaker john boehner is out with an op-ed in today's "wall street journal" entitled "the president is reigning against a budget crisis he created." the same budget crisis speaker boehner and 173 of his house republicans voted for back in 2011. as a reminder, this is how he described the deal at the time. >> you know, i got 98% of what i wanted. i'm pretty happy. >> what is making speaker boehner unhappy with the present situation? quote, no one should be talking about raising taxes when the government is still paying people to play video games, giving folks free cell phones, and buying $47,000 gre cigarette-smoking machines. joining m
today secretary of defense leon panetta notified congress of the pentagon's plan to furlough 700,000 civilian employees, who, beginning in april, will be required to take one day off per week. in essence, a 20% pay cut. as for the current political geist, this seems to be more about political positioning rather than prevention. this afternoon, the president will sit down with local tv anchors to explain the adverse effects of the coming cuts. meanwhile, speaker john boehner is out with an op-ed...
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Feb 20, 2013
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nine days to go and with no budget deal, the pentagon announces upcoming furloughs for 700,000 civilian employees. >>> as his first speech as secretary of state today, john kerry issued a warning about the budget impasse. >> the looming days of budget sequester that everyone actually wants to avoid, or most, we can't be strong in the world unless we are strong at home. my credibility as a diplomat working to help other countries create order is strongest when america at last puts its own fiscal house in order, and that has to be now. >>> mending fences. president obama calls marco rubio and lindsey graham to talk immigration reform as john mccain faces an angry town hall at home. >> i'd like to respond to any questions or comments or insults that you may have. >> believe me, that is only the beginning. wait until you see what happens next. >>> joe biden being biden. the vice president's frank advice to parents on self defense and gun control. >> if you want to protect yourself, get a double-barrel shotgun. you don't need an ar-15. it's harder to aim, it's harder to use, and, in fact, yo
nine days to go and with no budget deal, the pentagon announces upcoming furloughs for 700,000 civilian employees. >>> as his first speech as secretary of state today, john kerry issued a warning about the budget impasse. >> the looming days of budget sequester that everyone actually wants to avoid, or most, we can't be strong in the world unless we are strong at home. my credibility as a diplomat working to help other countries create order is strongest when america at last puts...
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Feb 20, 2013
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the pentagon announced tell it would absorb the blow. >> the defense department faces enormous budgetary uncertainty. >> economists warn that sequestration will hit the entire metro area, possibly more than any other region. department of agriculture employee charles says that it could impact meatpacking plants. >> we will have to be frugal. >> that means less tax revenue for jurisdictions. another impact? fewer riders and less revenue for metro. >> federal workers will have less disposable income. >> a new factor in the payroll tax increase, up $5.5 billion from reduce procurement spending, that is a whopping $13 billion out of the metro area economy. >> it has already crippled the economy in the sense that it has stopped moving. >> even non-government workers are worried. >> it could be bad news. >> and now congress is on break and president obama spent the weekend hanging out with tiger woods. however, there are a lot of people optimistic that the white house and congress will get down to business and come up with an agreement to avert sequestration san. reporting live, abc7 news. >>
the pentagon announced tell it would absorb the blow. >> the defense department faces enormous budgetary uncertainty. >> economists warn that sequestration will hit the entire metro area, possibly more than any other region. department of agriculture employee charles says that it could impact meatpacking plants. >> we will have to be frugal. >> that means less tax revenue for jurisdictions. another impact? fewer riders and less revenue for metro. >> federal workers...
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Feb 20, 2013
02/13
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they're betting they'll blame the president for lost funding in federal programs and the pentagon over ten years, should the sequestration take place. house speaker john boehner said, quote, today the president advanced an argument republicans have been making for a year. his sequester is the wrong way to cut spending. senate majority leader mitch mcconnell insisted "more than three months after the november election, president obama still prefers campaign events to common sense, bipartisan action." and joining us now for more on this from washington, the former chief economist of the international monetary fund and bloomberg view columnist, simon johnson. he's the co-author of "white house burning: our national debt and why it matters to you," now out in paperback. simon, good to see you this morning. >> nice to be with you. >> simon, if you could help us through this over the next week or so, it doesn't look like there's a path to avoiding the sequestration if you listen to the two sides. so how damaging would this be? because we've heard a couple different versions of it that would
they're betting they'll blame the president for lost funding in federal programs and the pentagon over ten years, should the sequestration take place. house speaker john boehner said, quote, today the president advanced an argument republicans have been making for a year. his sequester is the wrong way to cut spending. senate majority leader mitch mcconnell insisted "more than three months after the november election, president obama still prefers campaign events to common sense,...
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Feb 20, 2013
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our pentagon correspondent barbara starr is standing by with more on that story. what are they saying? >> well, you know, fredricka, we've been hearing for weeks about this fancy word around washington called sequester. what are we really talking about? layoffs at the pentagon, cutbacks in military spending, but it is the layoffs that are going to start if this budget cut problem is not solved, if congress cannot avert mandatory spending cuts. what the pentagon did is notify congress, are some 800,000 civilian workers are facing one day of furlough for the next 22 weeks. it is going to start hitting an awful lot of people right in the pocketbook. i want you to have a quick listen to one of the pentagon officials that explained some of the impact today. >> the effects of sequestration and the continuing resolution on our military personnel will be devastating. but on our civilians, it will be catastrophic. these critical members of our workforce, they work in our depots. they maintain and repair our tanks, our aircraft, our ships, they teach our kids. they care for
our pentagon correspondent barbara starr is standing by with more on that story. what are they saying? >> well, you know, fredricka, we've been hearing for weeks about this fancy word around washington called sequester. what are we really talking about? layoffs at the pentagon, cutbacks in military spending, but it is the layoffs that are going to start if this budget cut problem is not solved, if congress cannot avert mandatory spending cuts. what the pentagon did is notify congress, are...
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but how much discretion do they have at the pentagon, barbara? can they get rid of big ticket gun programs, weapons instead of furloughing these thousands of people, for example? >> they say they cannot do that, wolf. essentially, sequestration, that word again, means mandatory across the board budget cuts. everybody takes a hit. so they say they can't do that. >> the military will not furlough workers on bases around the world and there are at least 100 bases around the world. only bases in the united states can be furloughed. why is that? >> in many cases these foreign nonu.s. workers are paid by the local countries so there's no savings there. in other cases, they would have to renegotiate essentially employment agreements with that government. that opens up a can of worms. a lot of this is just set in stone, very little discretion about how to carry all of this out if it comes to that, wolf. >> $46 billion in defense department cuts, according to this forced budget plan cut. just for some perspective, the u.s. is going to spend $88 billion th
but how much discretion do they have at the pentagon, barbara? can they get rid of big ticket gun programs, weapons instead of furloughing these thousands of people, for example? >> they say they cannot do that, wolf. essentially, sequestration, that word again, means mandatory across the board budget cuts. everybody takes a hit. so they say they can't do that. >> the military will not furlough workers on bases around the world and there are at least 100 bases around the world. only...
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Feb 20, 2013
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those are very similar to the kind of tools you would need to hack into, let's say, the pentagon. >> reporter: and those fighting back say we can help. step one, avoid any message that looks suspicious. >> and that really comes from people who are not very careful about pass words, particularly pass words, e-mail pass words. >> reporter: so be careful because there are steps we can take to protect ourselves and our private data. in an ironic twist, the chinese hackers were found because in order to communicate with each other outside of the chinese firewall they had to logon to their facebook and twitter accounts where they were discovered. silicon valley technology at work to expose the hackers as well as to protect us from them. jessica? >> okay, thank you, scott. now one thing hackers could not disrupt is the steady march of google stock. shares reached a new peak today, $800 a share boosted by a rumor that google may soon open retail stores ala apple. california's largest public pension system is taking a stand on gun violence, withdrawing investments that make assault weapons an
those are very similar to the kind of tools you would need to hack into, let's say, the pentagon. >> reporter: and those fighting back say we can help. step one, avoid any message that looks suspicious. >> and that really comes from people who are not very careful about pass words, particularly pass words, e-mail pass words. >> reporter: so be careful because there are steps we can take to protect ourselves and our private data. in an ironic twist, the chinese hackers were...
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Feb 20, 2013
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. >> let me ask you about the sequester, chris cillizza, because the pentagon is suggesting there will be 700,000 civilian layoffs. real people are being effected now, but everyone expects this will kick in in nine days and then, i guess, the white house thinks they'll negotiate the continuing resolution and some sort of an agreement will occur magically before the end of march. republicans still say they won't buy into any taxes. so we haven't bridged any of these gaps. >> we haven't, andrea. look, i know the president came out and gave a statement yesterday sort of expressing his desire for a deal, but i think this is really about -- and republicans are doing this too -- about positioning for march 2nd and beyond. no one expects a congress, who isn't even here this week, they are taking the president's week off, fine with me if i had that week off. they are taking this week off. next week they are back. congress doesn't get big budget deals done in eight days' time, seven days' time. the political positioning to see who has the upper hand in the negotiations that, in theory, will go
. >> let me ask you about the sequester, chris cillizza, because the pentagon is suggesting there will be 700,000 civilian layoffs. real people are being effected now, but everyone expects this will kick in in nine days and then, i guess, the white house thinks they'll negotiate the continuing resolution and some sort of an agreement will occur magically before the end of march. republicans still say they won't buy into any taxes. so we haven't bridged any of these gaps. >> we...
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Feb 20, 2013
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as late as september the pentagon was saying they were still trying to understand what the law was. in december they hadn't started. just a few weeks ago they start coming out now with all these dooms day scenarios. the reality is that the president could have stopped it. the house of representatives has passed not one, but two bills that would have stopped it. the senate has done nothing. martha, when the president talks about a balanced budget, most americans think what he means we balance the amount of money coming in with the amount of money coming out. martha: right. >> that is not what the president talks about with balance. martha: that is interesting, jay carney quoted alan simpson but the other thing he did not quote that alan simpson said, if this president does not get serious about deficit reduction, including taking on medicare and social security and reforming those entitlement programs, that he will have a failed presidency. do you think that is a message republicans have done a good job getting across? >> well, martha, i think that it is very difficult sometimes when
as late as september the pentagon was saying they were still trying to understand what the law was. in december they hadn't started. just a few weeks ago they start coming out now with all these dooms day scenarios. the reality is that the president could have stopped it. the house of representatives has passed not one, but two bills that would have stopped it. the senate has done nothing. martha, when the president talks about a balanced budget, most americans think what he means we balance...
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Feb 20, 2013
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the pentagon just announced a news conference at 10:00 a.m. pacific to lay out how these automatic spending cuts will affect our spending. there are about 170 federal civilian workers in california. most of them would be furloughed for up to 22 days. that's equivalent to a 20% pay cut over a six-month period. now, those furloughs would not kick in until april, even if sequestration takes effect next friday. businesses that work for the federal government would also cut back. >> that waiting and failing to spend now is what could lead to unemployment now and difficulties later. . >> reporter: we'll -- we'll take a look at what the long- term effects could be on -- on california -- next. >> thank you. >>> a group that supports same- sex marriage is launching a $is million -- is launching a $1 million campaign featuring clips of president obama, former first lady laura bush, colin powell and former vice president, dick cheney, all expressing support for same-sex marriage. the group says the goal of the tv ad is to show there is bipartisan support
the pentagon just announced a news conference at 10:00 a.m. pacific to lay out how these automatic spending cuts will affect our spending. there are about 170 federal civilian workers in california. most of them would be furloughed for up to 22 days. that's equivalent to a 20% pay cut over a six-month period. now, those furloughs would not kick in until april, even if sequestration takes effect next friday. businesses that work for the federal government would also cut back. >> that...